FAFSA Application | Free Application for Federal Student Aid

FAFSA Application | FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA): When studying in American colleges, international students incur more costs than their domestic counterparts in addition to tuition and fees, accommodation, books, and other supplies. International airfare and visa application fees are a couple of those additional costs.

Even though studying in the United States can be costly, particularly given the volatility of currency values, there are strategies available to overseas students to lower their overall cost of attendance. International students may be eligible for specific forms of merit- or need-based aid, experts say, even if funding for them is frequently more restricted.

FAFSA APPLICATION | HOW INTERNATIONAL STUDENTS CAN APPLY FOR FINANCIAL AID

You may still be eligible for financial aid in other ways even if you are unable to complete the FAFSA. One or more of the following applications may be required of you as an international student to be eligible for grants, scholarships, and institutional loans.

Application for Financial Assistance for International Students (ISAFA): Many schools and universities utilize the ISAFA form to assess your eligibility for institutional aid. You may get the application online and fill it out for free.

Institutional Applications: For overseas students, some universities offer their financial aid applications. For instance, the University of Pennsylvania needs an application for the Penn Financial Aid Supplement in addition to the CSS Profile.

CSS Profile: Another tool that’s widely used in American schools is the CSS Profile. It gathers data in your local currency regarding the assets, income, and outlays of your household.

FAFSA APPLICATION | OTHER FINANCIAL OPTION

GRANTS & SCHOLARSHIPS

For international and DACA students, there are plenty of grants and scholarships available; unlike student loans, these are non-repayable. Universities, nonprofit groups, governmental entities, and private businesses can all provide grants and scholarships.

For instance, MPOWER provides a range of scholarships for students from throughout the world, while the Fulbright Foreign Student Program funds graduate students and young professionals to study and perform research in the United States.

INTERNATIONAL STUDENTS’ STUDENT LOANS

Only qualifying noncitizens, permanent residents, and citizens of the United States are granted federal student loans. Private lenders do, however, offer education loans to international students. For international students to be eligible for a loan, many lenders demand co-signers to be citizens or permanent residents of the United States. Nevertheless, a small number of lenders—including MPOWER—offer foreign students student loans without the need for co-signers.

You can fund your education with a loan of up to $100,000 through MPOWER, with interest-free payments only due during the school year and for the first six months following graduation. Your outstanding sum will be amortized over the next ten years following the conclusion of these six months, at which point monthly principal and interest payments become due. Fixed interest rates are offered by MPOWER, and enrolling in automated payments entitles you to a 0.25% discount.

FAFSA APPLICATION | GENERAL TIPS

• Get going early. Don’t imagine you can apply for financial aid this month and utilize the funds to pay your tuition next month; you have more work to accomplish than your peers who are attending American universities.
• If a certain school piques your interest, visit its website to learn more about its pricing, registration procedures, resources, and programs for overseas students, and program availability (i.e., does it offer the degree you want?).
• Research the subject and make a to-do list. What paperwork, for example, needs to be completed? (Travels? Forms for housing? Registering with law enforcement? A valid passport? Contacts for emergencies? Health insurance?
• Make a file to house your school’s paperwork and information.
• Find out who will be handling your financial assistance paperwork at the school. When you have questions, send them an email using the address you obtained. (If you’re unsure about where to begin, consider contacting the foreign student office at the institution.)

Remember that you can get assistance with completing the FAFSA Application form by contacting the Federal Student Aid Information Center or using the form itself at fafsa.gov. You can also find out how foreign students apply for financial aid by getting in touch with the college of your choice.